Complaint Against Delphi Could Implicate GM

Law360 (October 31, 2006, 12:00 AM EST) -- Delphi Corp.'s former chief executive, J.T. Battenberg III, is poised to take on securities fraud charges levied by the U.S. Securities and Exchange Commission in court, which could bode poorly for General Motors Corp.

After the SEC filed a complaint against Delphi Corp. and 13 individuals in connection with accounting fraud at the bankrupt auto parts supplier Monday, a number of its targets settled immediately.

But Battenberg asserted his innocence and expressed disappointment over the SEC’s actions in a statement he released through his attorney, William...